Financial Services Regulatory Update 2020/05/29

  • Hong Kong Exchanges and Clearing Limited to Introduce New Initiatives to Enhance Liquidity of ETPs
  • Hong Kong Securities and Futures Commission Reprimands and Fines Southwest Securities (HK) Brokerage Limited HK$5 Million for Breaches of Anti-Money Laundering Regulatory Requirements
  • Hong Kong Securities and Futures Commission Reprimands and Fines Convoy Asset Management Limited HK$6.4 million For Regulatory Breaches Over Bond Recommendation
  • Hong Kong Securities and Futures Commission Seeks Court Order to Wind Up Combest Holdings Limited
  • Hong Kong Securities and Futures Commission Welcomes Re-appointment of Chief Executive Officer
  • Hong Kong Exchanges and Clearing Limited Signs Agreement with MSCI to License Indexes to Launch Asia and Emerging Markets Futures and Options Contracts
  • The Hong Kong Monetary Authority Releases Report on Fintech Adoption and Innovation in the Hong Kong Banking Industry
  • U.S. Securities and Exchange Commission Orders Credit Rating Agency to Pay US$3.5 Million for Conflicts of Interest Violations
  • U.S. Securities and Exchange Commission Adopts Amendments to the CAT NMS Plan to Improve Transparency and Financial Accountability
  • U.S. Securities and Exchange Commission Awards Over US$27 Million to Whistleblower
  • U.S. Securities and Exchange Commission Adopts Amendments to Improve Financial Disclosures about Acquisitions and Dispositions of Businesses
  • U.S. Commodity Futures Trading Commission Issues COVID-19 Customer Advisory on Commodity Exchange-Traded Products and Funds
  • Shanghai Stock Exchange Issues Notice of Matters Concerning Launching Pilot Program for Public Issuance of Short-Term Corporate Bonds
  • China Securities Regulatory Commission Approves Very Low-sulfur Fuel Oil Futures Trading
  • Financial Conduct Authority of the United Kingdom Announces Proposals to Continue Support for Customers Struggling to Pay the Mortgage due to Coronavirus (Covid-19)
  • Financial Conduct Authority of the United Kingdom Launches Consultation on Additional Guidance for Payments Firms to Strengthen Their Way of Looking After Customers’ Money
  • Monetary Authority of Singapore Launches New S$6 Million Grant Scheme to Support Singapore FinTech Firms
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Financial Services Regulatory Update 2020/05/15

  • Hong Kong Securities and Futures Commission Reprimands and Fines Mega International Commercial Bank Co., Ltd. HK$7 Million for Regulatory Breaches over CIS Sale
  • Hong Kong Securities and Futures Commission Obtains Disqualification Orders against Former Directors of EganaGoldpfeil (Holdings) Ltd
  • Hong Kong Securities and Futures Commission Obtains Court Order against Shandong Molong Petroleum Machinery Company Limited
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Censures Mr Zhang Yun, Former Executive Director of Kiu Hung International Holdings Limited (Stock Code 381), for Failure to Comply with A Direction on Training and the Listing Rules
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Censures Kong Sun Holdings Limited (Stock Code: 295) and Seven of its Current and Former Directors for Breaching the Listing Rules and the Director’s Undertaking
  • The Hong Kong Competition Commission Reminds Businesses Participating in Anti-epidemic Subsidy Programs to Adhere to the Competition Ordinance
  • The Hong Kong Insurance Authority Grants Authorization under Fast Track to the Fourth Virtual Insurer
  • The Hong Kong Monetary Authority and the Hong Kong Securities and Futures Commission Initiates the Establishment of the Green and Sustainable Finance Cross-Agency Steering Group
  • U.S. Securities and Exchange Commission Charges Companies and CEO for Misleading COVID-19 Claims
  • U.S. Securities and Exchange Commission Charges Bloomberg Tradebook for Order Routing Misrepresentations
  • U.S. Securities and Exchange Commission Charges Morgan Stanley Smith Barney with Providing Misleading Information to Retail Clients
  • U.S. Commodity Futures Trading Commission Orders Trader and his Firm for Wash Sales
  • U.S. Commodity Futures Trading Commission Files Charges in US$20 Million International Binary Options and Digital Asset Fraud Scheme
  • Shanghai Stock Exchange STAR Companies Release Annual Reports with Highlights
  • Shenzhen Stock Exchange’s Press Conference on the Publication of the Business Rules for Reform of the ChiNext Board and Piloting the Registration-based System
  • Shenzhen Stock Exchange Advances the Pilot Project for Publicly Offered REITs with All-out Efforts
  • Shenzhen Stock Exchange Releases Five Themed Stock Indexes with Characteristics Including Public Health and Yangtze River 100
  • Australian Securities and Investments Commission Warns Consumers: Investment Advertising Is Not Always ‘True to Label’
  • Australian Securities and Investments Commission Defers Commencement of Mortgage Broker Reforms and Design and Distribution Obligations
  • The Financial Services Regulatory Initiatives Forum of the United Kingdom Launches the Grid to Help Financial Firms’ Planning
  • The Monetary Authority of Singapore Introduces Temporary Measures to Allow Electronic Dissemination of Rights Issue and Take-over Documents

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Financial Services Regulatory Update 2020/05/01

  • Hong Kong Securities and Futures Commission Cautions on Crude Oil Futures and ETFs
  • Hong Kong Securities and Futures Commission’s Regulatory Response to COVID-19
  • Hong Kong Securities and Futures Commission Issues Circular to Licensed Corporations on Management of Cybersecurity Risks Associated with Remote Office Arrangements
  • Hong Kong Securities and Futures Commission Reprimands and Fines BOCOM International Securities HK$19.6 Million for Internal Control Failures
  • Hong Kong Securities and Futures Commission Obtains Disqualification Orders against Former Directors of Long Success International (Holdings) Limited
  • Hong Kong Court Sentenced Unlicensed Fund Manager to Community Service
  • Hong Kong Securities and Futures Commission Updates Frequently Asked Questions Relating to Real Estate Investment Trusts
  • Hong Kong Securities and Futures Commission Signs Memorandum of Understanding with Hong Kong Competition Commission
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Criticizes China Ding Yi Feng Holdings Limited (Stock Code: 612), and Censures or Criticizes a Number of Its Former and Current Directors for Breaching the Listing Rules and/or the Director’s Undertaking
  • The Listing Committee of The Stock Exchange of Hong Kong Limited Censures or Criticizes a Number of Former Directors of Champion Technology Holdings Limited (Stock Code: 92) and/or Kantone Holdings Limited (Stock Code: 1059) For Breaching the Listing Rules
  • Hong Kong Exchanges and Clearing Limited Extends Consultation Period for Consultation Paper on Corporate WVR Beneficiaries
  • Hong Kong Exchanges and Clearing Limited to Implement Volatility Control Mechanism First Phase Enhancements on May 11, 2020
  • Officials from Relevant Departments of China Securities Regulatory Commission Answer Questions Regarding Luckin Coffee’s Accounting and Reporting Improprieties
  • U.S. Securities and Exchange Commission Orders Three Self-Reporting Advisory Firms to Reimburse Investors as Part of its Share Class Selection Disclosure Initiative to More Than US$139 Million
  • U.S. Securities and Exchange Commission Files Charges Against Praxsyn Corp. and its CEO for COVID-19 Scam
  • New York Federal Court Orders Defendants to Pay More Than US$595,000 for Forex Solicitation Fraud and Misappropriation
  • Financial Conduct Authority of the United Kingdom Publishes Payment Protection Insurance (PPI) Complaints Deadline Final Report
  • Financial Conduct Authority of the United Kingdom Commences Civil Proceedings Against 24HR Trading Academy Ltd in Relation to Alleged Unauthorized Investment Advisers
  • Australian Securities and Investments Commission Reports on Corporate Finance Regulation – July to December 2019
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